The latest insights from COINOTAG, dated April 28th, reveal significant projections from Standard Chartered Bank regarding the trajectory of Bitcoin. As shared by Geoffrey Kendrick, the bank’s Global Head of Digital Assets Research, Bitcoin could achieve a remarkable milestone of approximately $120,000 in the upcoming second quarter. This anticipated rise is largely attributed to a strategic shift in investment allocations, with funds moving away from US-centric assets.
Kendrick’s recent report, published Monday, highlights key economic indicators bolstering this bullish sentiment. Notably, the US Treasury yield curve is demonstrating a premium not seen in over a decade, tracking closely with the performance of Bitcoin. Furthermore, a trend is emerging where US investors are diversifying into non-US assets, while Bitcoin whales are reportedly increasing their holdings. Additionally, recent ETF inflows indicate a notable switch from traditional safe havens like gold towards Bitcoin, further substantiating this growth forecast.